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Home State Regulations

Payday Loan Laws in California

Loan Term:31 days
Loan Amount:$300
Fees and Finance Charges:15% of amount loaned
Laws:Three major new adjustments to the lending procedure for payday loans have recently been passed via A.B. 207. It is now illegal for fees on deferred deposit transactions to have APR's greater than 10%. It is also now necessary that any check a borrower gives a lender have the borrower's real name and address clearly listed on the check. In addition to this, it is illegal for a borrower to cash a loan check more than 31 days after it has been granted.